21 февраля 2018, EUR/USD
Technical observation
On the daily chart above, EURUSD broke above a resistance zone (1.2211-1.2174) while on an upward trend. The pair then retraced thrice to the zone before continuing up to a key resistance line 1.2507, Price could not break above the line and so it got rejected and is currently rallying towards the zone (1.2211-1.2174).I expect a possible rejection of it at the zone to rebuy EUR with my take profit at 1.2507 and stop loss around 1.2088,In case there’s a clear breach of price below the support zone, wait for a correction to the zone before you enter short positions
Technical levels
Resistance levels
R1.1.2513
R2.1.2615
R3.1.2777
Pivot
1.2457
Support levels
S1.1.2129
S2.1.2291
S3.1.2351
Trade signal
Buy EURUSD around (1.2211-1.2174) with your take profit at 1.2507 and stop loss around 1.2088
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